Ikur Yatani, has told off DP Rigathi Gachagua and other Kenya Kwanza leaders claiming that the new administration only found Ksh.93 million in the public coffers.
The nation’s second in command in a tv interview in NTV had stated that they were inheriting a dilapidated economy from Uhuru Kenyatta.
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Inheriting a dilapidated economy
“We have inherited a dilapidated economy. We have found empty coffers. There is barely any money in this country and we are starting from scratch. I have asked the people of Kenya to be patient with us because we have a plan but it cannot be immediate because we have found a bad situation in terms of the economy,” said Mr. Gachagua on Sunday during an interview with NTV.
According to the CS, the claims made by the political leaders were a show of ignorance.
Leaders stating these allegations are ignorant
The CS explained that the government does not collect money and store it in one place for over a month to be distributed after a certain accumulated figure has been achieved. He clarified that the standard procedure involved raising of revenue on a daily basis and funding of government activities within the same setout timelines, including salaries and other expenditures.
Mr. Yatani further stated that performance on revenue was mainly based on projections, which may experience shortfall, adding that the collected money determines allocation, including money channeled to counties.
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“We don’t know whether to sympathize with the situation because there is a lot of misconception. Government does not collect and store money,” pointed out Mr. Yatani.
Mr. Yatani, despite insinuating that it’s possible for Treasury to be nearly empty on any given day, explained that the government is funded daily and that there are competing needs that.
“We raise revenue on daily basis and we fund the government on daily basis and there are competing needs,” he said.
The CS made these remarks on 22nd September 2022, while addressing the senators’ induction held in Naivasha.